So if you think that neither companies or individuals will have enough money to travel extensively as before, why do think JQ will "effectively close their doors"? If anything the post-COVID19 environment will favour those airlines with a low cost base - i.e. JQ
I think that flag carriers will be the priority to get state support, and that carriers like JQ will be considered expendable. If carriers are parking 80%-95% of their fleets (as most are) for a period of two, three, six months (or longer), and even then have to re-establish routes to markets that have disappeared, there will be many carriers that just won't survive. Down the line, maybe, new LCCs may emerge, but I think the airline industry may look more like the industry of the 1980s (mainly flag carriers, limited routes, sub-daily frequencies on many routes that remain, no LCCs) for some time to come. LCCs, operating already on the slimmest of margins, will probably be the first to go to the wall, (Flybe notwithstanding, and with Alitalia surely on the brink already). Realistically, how will VA survive, too? It won't be able to borrow $$$ at anything but high interest rates, and an increasingly idle fleet must already be burning a hole in its shareholders' increasingly shallow pockets.
I'd be happy to be proven wrong, but the optimism by many on A-net that this will somehow all sort itself out in a few months is IMO seriously misplaced. Some commentators are talking about the economic consequences being potentially worse than those in the Great Depression of the 1930s. In that sort of scenario, you ain't going to get many people flying. Even the direst predictions of just a fortnight ago are being shown to have woefully underestimated the present situation. If solid carriers like QF and NZ are needing literally billions of dollars pumped into them to ensure their survival, who is there out there who will have the $$$ to do the same for LCCs? Especially when every other investment has already gone through the floor. Just my two cents' worth.